أسئلة وأجوبة
Is an MOU still legally binding to parties after its expiry?
Dear Sir/Madam,
We are at the final stages of the process, with our MoU expiring while waiting for the NOC. All cheques have been issued and shared.
In the MoU, we have a couple of additional conditions regarding the seller's obligation to obtain the NOC and a penalty of 10% for defaulting on either side.
If the seller decides not to continue with the process and not renew the MoU, does the expired one still legally cover the buyer?
Dear Questioner,
Yes, the understanding agreement will remain in place with all its terms and conditions, and both parties can rely on it in any lawsuit.
We can cooperate with you in this field. We are a law firm specializing in this type of dispute. We are happy and honored to always cooperate with you.
For further inquiries about your topic, you can reach our office or contact us via email or WhatsApp.
Dear Questioner,
Yes, if the transaction has not been completed because of the default of the seller, the termination clauses are still applicable even if the MOU expired.
You can make him liable for the default and sue him for the breach. The court can award you compensation according to the terms.
If you need further clarification or assistance in your matter, please share your WhatsApp number.
We will discuss further.
Dear Questioner,
Thanks for your inquiry!
Regarding the above, we would like to inform you that, it is important to note that the legal implications of an expired MoU may vary depending on the specific terms and conditions outlined in the agreement.
In general, an expired MoU may not have any legal standing as it is no longer in effect.
However, if the MoU includes clauses regarding the seller's obligation to obtain the NOC and a penalty for defaulting, these clauses may still be enforceable even after the MoU has expired.
It is recommended to join us at the office to fully understand the implications of the expired MoU and the rights and obligations of both parties in this situation.
Please feel free to contact us via email.
Dear Inquirer,
We are pleased to serve you and address your inquiries.
Yes, it is possible to rely on the memorandum of understanding even after its term has expired and seek compensation from the seller for failing to fulfill his obligations outlined in it, as long as they are directly responsible for this breach of the MOU.
Please contact us via email or call our offices in Dubai or Sharjah.
Jasim Al Haddad Law Firm
Legal Counsel and Consultations
Dear Questioner,
If a transaction fails due to seller default, then the buyer will still be covered by the MOU even if it expires.
You can make him liable for the default and sue him for the breach. The court can award you compensation according to the terms.
If you need further clarification or assistance in your matter, please share your WhatsApp number.
